Travel restrictions and a slump in demand as a result of the coronavirus pandemic have forced airlines to lay off staff and cut more flights.
On Monday, British Airways owner IAG said it planned to cut capacity by at least 75% in April and May.
IAG boss Willie Walsh, who was due to step down this month, will now stay in his post to manage the crisis.
Meanwhile, EasyJet said it may have to ground most of its planes as a result of travel bans and falling demand.
The no-frills airline said it had cancelled a “further significant” number of flights.
Virgin Atlantic is planning to drastically reduce the number of flights it’s operating due to coronavirus.
The airline said that by 26 March, it will see an 80 per cent reduction on the number of flights.
Around 75 per cent of its fleet will be parked by 26 March, and this will go up to 85 per cent in April.
Ryanair Holdings PLC has canceled all flights to and from Poland until the end of March and reduced flights to and from Spain from Monday until Thursday following lockdowns introduced by the respective local governments to contain the spread of the coronavirus.
Air France KLM said it was stepping up cost-saving measures to deal with the impact.
The Franco-Dutch airline said it had identified new measures which would generate €200m in savings in 2020, and ways to cut its capital expenditure by €350 million.
Air France KLM said it would gradually cut back its flights over the next few days, with the number of available seat kilometres (ASK) potentially falling by 70% to 90%.
The European budget carrier, which last week cut Italian flights in response to a government lockdown, said over the weekend that it is contacting all affected customers by email to advise them of their options.
Travel company Tui has cancelled the “vast majority” of its holidays. Tui said on Monday that its “temporary suspension” was aimed at “contributing to governmental efforts” to fight the spread of COVID-19, the illness caused by the coronavirus.